Pan American Silver remains top pick with strong cash flow and potential output boost from Escobal restart.

Pan American Silver (PAAS) is favored for its exposure to silver and gold in favorable jurisdictions, despite a 26% stock drop and lower silver prices. Its silver segment showed strong cash flow with a 27% reduction in all-in sustaining costs to $11.21/oz. Gold production faced challenges but is expected to recover. The company returns 58% of free cash flow to shareholders and offers a 1.8% yield. A potential restart of the Escobal mine could increase silver output by 80%, providing significant growth potential. The analyst maintains a buy rating at 9x forward earnings.

Pan American Silver (PAAS) trades at USD 42.24 on Pluang as of Nov 09, 2026 23:21 WIB, showing a 1-day gain of 2.60%. The stock's market cap stands at $17.12 billion, with a dividend yield of 1.8%. This trading data provides a current snapshot amid the company's recent operational updates and analyst buy rating at 9x forward earnings.